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04

Feb 2016

Wind Projects In Oklahoma Are Bringing In Hundreds Of Millions In Tax Revenue For Rural Communities

04 February 2016 | Posted by HLindon

Wind Projects In Oklahoma Are Bringing In Hundreds Of Millions In Tax Revenue For Rural Communities

A new study from Oklahoma State University has found that wind energy projects in the western part of the state are bringing hundreds of millions of dollars in tax revenue into local county coffers and school districts -- while also increasing the state's energy independence.

Wind energy companies have reportedly paid almost $134 million in ad valorem taxes in the state since 2004 -- thereby boosting the economic resources of a great many rural counties, according to Shannon Ferrell, a professor in Oklahoma State University’s Department of Agricultural Economics.

As an example, Roger Mills County (population a little more than 3,700) has received the biggest boost in property tax dollars to date, having received around $25.9 million from the wind energy industry so far.

A press release on the subject provides more:

Woodward County was second highest with $13.1 million from the wind industry, but Ferrell predicts those revenues will swell to $166.8 million over the lifetime of its wind farms. Garfield County has fared well, too, picking up $6.9 million in taxes from the farms. Ferrell estimates the county will see $69.1 million in revenue from wind systems.

Ferrell said his study is the first to measure the impact of the fast-growing wind industry on more rural counties, and how it co-exists with other key sectors vying for the same space. He hopes the study helps lawmakers shape policy decisions, he said.

Even as oil and gas companies close wells due to plunging prices, the wind industry thrives, Ferrell told a roomful of people Tuesday at an event put on by the Association of Energy Engineers and the Oklahoma Renewable Energy Council.

“Having these turbines in rural areas really makes an impact on those county budgets,” Ferrel stated. “I think that’s the biggest sign that wind has arrived in Oklahoma."

Oklahoma currently receives roughly 17% of its electricity via wind energy projects. There are around 2153 wind turbines currently operational there.

Image: wind turbines in Oklahoma by Marcy Reiford (some rights reserved)

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31 August 2014 | Posted by Zachary

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Daimler & BYD's joint Denza electric vehicle is now reportedly being produced in China. It should hit the market in September.

Daimler, a German company, and BYD, a Chinese company, created the joint venture Shenzhen BYD Daimler New Technology Co., Ltd., last year. The Denza, a 100% electric vehicle, is being produced in Pingshan, Shenzhen. The faactory has the capacity to build 40,000 electric cars per year.

With BYD having 37% of the Chinese electric car market this year, more than any other company, it's a good partner for Daimler. Setting up the joint venture also helps a great deal with Chinese policies. "Domestic production will help Daimler evade China’s 25% export taxes, in addition to the value added tax and consumption tax, which combine to substantially raise model prices," Trefis notes.

China is a bit of a sleeping giant in the electric car market. In 2012, it announced an aim to have 500,000 electric vehicles on the road by 2015, and 5 million by 2020. Only 17,600 were sold in 2013.... With such a huge gap between sales and ambitions, the Chinese government is increasing incentives, trying to convince provinces to make their incentives more inclusive (at least, for products made in China), and installing a lot of charging stations.

"As the country looks to persuade consumers to purchase environmentally-friendly electric vehicles, government subsidies could lower the 369,000 yuan (around $60,000) starting price for a Denza by around 110,000 yuan, almost 30%. In addition, starting next month, China will also exempt new energy vehicles, including plug-in electric and hybrid-electric and fuel-cell vehicles, from a purchase tax. This will further lower prices for Denza and make the high-priced electric vehicles more affordable for customers."

Furthermore, the government has just announced plans to pump 100 billion yuan ($16 billion) into the installation fo EV charging infrastructure.

Some provinces are making strong moves in support of electric vehicles as well. For example, the city of Shenzhen recently passed a law requiring that all new apartment buildings or condos include EV charging stations for each parking space in the project.

Taking everything into consideration, I think electric vehicles will have a strong future in China. With BYD having such a strong presence in the country (a few years ago, self-made Chinese billionare Wang Chuan Fu, who is the CEO, chairman, founder, and president of BYD, was actually the richest man in China), I think Daimler, which is already doing well in China because of its strong Mercedes brand, made a good decision teaming up with BYD.

Image by Shenzhen BYD Daimler New Technology

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industry news

Daimler & BYD’s Denza Electric Vehicle In Production, To Launch In Days

31 Aug 2014 | Posted by Zachary

Daimler & BYD's joint Denza electric vehicle is now reportedly being produced in China. It should hit the market in September.

Daimler, a German company, and BYD, a Chinese company, created the joint venture Shenzhen BYD Daimler New Technology Co., Ltd., last year. The Denza, a 100% electric vehicle, is being produced in Pingshan, Shenzhen. The faactory has the capacity to build 40,000 electric cars per year.

With BYD having 37% of the Chinese electric car market this year, more than any other company, it's a good partner for Daimler. Setting up the joint venture also helps a great deal with Chinese policies. "Domestic production will help Daimler evade China’s 25% export taxes, in addition to the value added tax and consumption tax, which combine to substantially raise model prices," Trefis notes.

China is a bit of a sleeping giant in the electric car market. In 2012, it announced an aim to have 500,000 electric vehicles on the road by 2015, and 5 million by 2020. Only 17,600 were sold in 2013.... With such a huge gap between sales and ambitions, the Chinese government is increasing incentives, trying to convince provinces to make their incentives more inclusive (at least, for products made in China), and installing a lot of charging stations.

"As the country looks to persuade consumers to purchase environmentally-friendly electric vehicles, government subsidies could lower the 369,000 yuan (around $60,000) starting price for a Denza by around 110,000 yuan, almost 30%. In addition, starting next month, China will also exempt new energy vehicles, including plug-in electric and hybrid-electric and fuel-cell vehicles, from a purchase tax. This will further lower prices for Denza and make the high-priced electric vehicles more affordable for customers."

Furthermore, the government has just announced plans to pump 100 billion yuan ($16 billion) into the installation fo EV charging infrastructure.

Some provinces are making strong moves in support of electric vehicles as well. For example, the city of Shenzhen recently passed a law requiring that all new apartment buildings or condos include EV charging stations for each parking space in the project.

Taking everything into consideration, I think electric vehicles will have a strong future in China. With BYD having such a strong presence in the country (a few years ago, self-made Chinese billionare Wang Chuan Fu, who is the CEO, chairman, founder, and president of BYD, was actually the richest man in China), I think Daimler, which is already doing well in China because of its strong Mercedes brand, made a good decision teaming up with BYD.

Image by Shenzhen BYD Daimler New Technology

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